RE: Tax Treatment Under Kolbe-Stenholm

[National Dialogue Moderator <moderator>]

Mr. Arsinow,

You are correct in your puzzlement, as I misspoke.  There is a basis
adjustment for all contributions at withdrawal, and only the inside-buildup
is subject to taxation.  I apologize for this mistake -- I had to go back
and read my own bill.

-- Jim Kolbe